According to data released by China Customs, China's rare earth shipments reached 35,448 tons in 2020, a 23% drop from 46,330 tons in 2019 and the lowest since 2015. The main reason for this result is that the outbreak of Covid-19 has hit the demand in overseas markets.
The export volume in December was 4168 tons, which was higher than the 2611.1 tons in November and 3,57 tons in December 2019. The export of rare earths has fallen sharply for two consecutive years.
Roskill's David Merriman said that the decline in 2020 was due to the lockdown cause by COVID-19 and "weak growth in demand from major end users outside of China." In the downstream, it is mainly reflected in the decline of fuel in the automotive and aerospace fields, which affects the demand for rare earth catalysts.
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